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Lottery dollars help support education in the Commonwealth.
Playing the Virginia Lottery is not just a way to take a chance at winning a prize. It’s also an investment in Virginia. Since the Virginia Lottery began September 20, 1988,. players have purchased more than 35 billion tickets. That money has turned over in Virginia’s economy many times. For each dollar wagered, winners receive between 50-58 cents; retailers earn 5-6 cents as compensation for selling tickets; it takes 8-10 cents to administer the lottery; and the state’s general fund receives 32-35 cents. Money Helping Localities Winners’ prizes and retailers’ compensation are often spent in the localities from where they came. The 5,600 lottery retailers statewide have earned more than $170 million since 1988. Retailers have used their earnings to upgrade their stores, hire new employees, and support local charities in their communities. That money then recirculates in the community. Lottery players have won more than $1.7 billion. Many lottery winners have purchased homes, cars, clothes and other consumer goods, giving local businesses a boost each time they buy. Helping AU Virginians Lottery dollars are making a profound financial impact on the lives of everyone in Virginia. The Virginia Lottery is the largest nontax contributor to the general fund. The state uses money transferred from the Virginia Lottery, along with your tax dollars, to finance programs and services that enrich the lives of everyone who lives in the Commonwealth. The Lottery has transferred more than $1 billion to the general fund. This money stays in Virginia to fund education, health and human resources, natural resources, public safety, transportation, economic development, and general government. During the first year of sales, the General Assembly designated lottery profits to be used for capital construction projects which included building or renovation at The College of William and Mary, Norfolk State University, Virginia Tech, Old Dominion University, Virginia Commonwealth University, The Medical Colleges of Virginia, Mary Washington College, The University of Virginia, George Mason University, James Madison University, community colleges across the state, and several mental health educational facilities. In 1990, the General Assembly voted to use lottery funds as part of the general budget of the Commonwealth, which has been done every year since. Five years ago, no one would have guessed the Virginia Lottery would be as successful as it has been. The Virginia Lottery has met the legislative mandate of the State Lottery Law to establish a lottery “which will produce revenue consonant with the probity of the Commonwealth and the general welfare of its people."
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